Bitcoin heads into the weekend trading around $60,000 after failing to defend the $59,000-$62,000 support zone, with traders weighing whether the recent slide to $58,000 marks capitulation or a new accepted price level. The May PCE inflation report provided the initial trigger for selling, with core PCE rising 3.4% year over year, above the Federal Reserve's 2% target. However, the article suggests the deeper pressure came from market positioning and persistent outflows from spot Bitcoin ETFs rather than the data itself. The combination of sticky inflation, leveraged liquidations, and waning institutional demand has left Bitcoin testing key technical levels. The central question for the weekend is whether buyers step in to defend current prices or whether the decline reflects broader exhaustion. The outcome could set the tone for Bitcoin's trajectory heading into the following week.
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